Sacred Cows

1. Make Every Indicated Trade Every Time

How many times have I kicked myself because I thought I could outsmart my own system? When I first started trading, it seemed perfectly natural to do things like put off placing an order because I was waiting for current news stories to develop favorably, thinking that I, rather than some system, knew more about current market conditions. I thought it was prudent to err on the side of caution, and, in short, I was not pulling the trigger when I was supposed to. This is a recipe for certain failure for any trader. This is true whether you trade off the signals generated by The ETF Digest or by any other system. A wise trader once said, “An inferior system, consistently implemented, is superior to a great system inconsistently implemented.”